According to Odaily, data from blockchain analysis platform Bubblemaps reveals substantial insider activity in the Meme coin Mother Iggy (MOTHER). Over 20% of MOTHER's total supply was reportedly purchased directly from the issuing team by insiders. As of the time of writing, tokens worth more than $2 million have been sold.
Specifically, on May 29, an insider sold approximately 10% of the total token supply. This insider, who operates an account beginning with 'JEET', is said to have purchased over 109 million MOTHER through over-the-counter transactions, most of which were subsequently sold off. Data from Solscan indicates that this user received 127.5 million MOTHER from the deployer account. These funds were then sent to several other wallets, at least one of which sold 20 million MOTHER to the Raydium liquidity pool through multiple transactions.
